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Igmarkets.com Review

Overall Rating: (1.919)
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Total Reviews: 97
Last Updated: 2015-03-08
Special Notes:

Other websites of this company: IGFOREX.COM

 

2011-05-15 NOTE:  The FPA has heard from a couple of sources that IG is ceasing its operations in the USA.

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Damien Chalmers, Sydney, Australia

Rating:
Date of Post:2013-02-24
Review: IG Markets allegedlly is a "Bucket Shop. Cheating you out of your money is there game.It must be said that they will target larger traders not the small guys. Also I am not an Employee of IG Markets, which I allege that some of the previous reviewers may be?.Anyway I have traded with IG Markets for almost seven years but never again. My past experience trading has involved, CFD trading on gobal shares, including longs and shorts, and forex. After reading there recent product disclosure statement. Particular attention must be applyed to: page8 (2) We have no obligation to accept or to ecute or Cancel.
Page8(4) You acknowledge we have the right unilaterally and with immediate effect, to change all or any part of our Electronic trading servive. Or to change the nature, compostion or availabilty.
Page21(11.1) We may at our absolute discretion accept an order from you.
Page23(B.14) If for any reason, we are unable to accept your offer electronically, we may( Defined as wish or hoped) with out abiligation provide you with further information.
Also read P28 and page 26(1) and (7)
In simple terms you must film and take screenshots and watch your trading 24hours a day. Because it is your own responsibilty to tell and report to IG Markets . But they decide how they choose to SCAM you. BAN the Bucket Shop. I can only ask to to do your own research. Good on you Steve C for standing up to IG Markets.
And yes I traded a large sum of money with IG Markets.
Damien Chalmers

Review Moderation Team Note: We screen reviews very carefully. It is possible that a few fake ones slip through and a few real ones get caught, but we are confident that the vast majority of the reviews displayed are real.

Seth, auckland, New Zealand

Rating:
Date of Post:2013-02-22
Review: Started using IG Markets off & on since about 3 years ago.

Got really serious in trading last year JUL-12... although lost a fair bit of money as a result of MY OWN Actions and NOT their fault.

Then took a break and restarted around Xmas - 12 since then have banked a fair amount in profits. Never had a hassle with my trade as such. Yes I have noticed there is slippage is your Stop Loss is close the Market Price to close out your trade.

But I am being proactive when trading hence conduct Stop Loss on my own rather than stipulate that thresh-hold. i.e. my SL point in much lower than when what I intend to conduct the SL on my own.

In terms of Money cash-in great, prompt and efficient quick balance update. In terms of Money cash-out have been very efficient I see the money come in about 1-2 days after requesting it. It is more dependent on the cut-off times from banks otherwise sometimes my money shows up in 1 day even on Saturday when it has been cashed-out on Friday Afternoon.

Now I am quite worried reading all the other reviewers from 2011 & 2010 as there is a fairly large amount over $100k of mine with them... so hoping that the issues other have faced have been screened by them, addressed and rectified. Hence it is somewhat re-assuring reading the 2013 Reviews online.

P.S. For Feb alone running $37k profits. There has been one instance where my limit point was not struck but I luckily I was watching the market and saw that the market reached that point and dashed back in mili-seconds hence could be the result of that. I guess we do have to understand they have a spread around the real price... hence whilst a Limit Point may strike on the IG Platform in real-time it may still be a few cents away, hence pertaining to the reason why the order was not closed. Having said so the market moved in favor once again later that day so the Limit Point was picked up (plus a few pips) in my favor :)

FYI I am only trading SHARES hence I could be WRONG when it FX Traders and their experiences.

Peter, Adelaide, Australia

Rating:
Date of Post:2013-02-17
Review: I have used IG Markets "on and off" for about 7 years now (since 2005). I have never had any problems with either their platform or execution of trades. I have lost money in the past but that has been entirely the result of my own trading decisions, not the broker. I only trade CFDs on shares with them these days but have done forex in the past.

The only criticism I can think of, is that if you set a "limit order to open with them" because you can't be there when the stock market opens - and the market opens significantly away from your limit price, they will still take your trade at the limit price you asked, which means they must widen the spread for the purpose of making a sale.

Apart from that, my dealings with them have been completely pain free and efficient and according to what I would expect. From my perspective, it seems like there are a lot of whingers on here, who may be blaming the broker for products they do not understand.

SANDY, SYDNEY, Australia

Rating:
Date of Post:2013-02-06
Review: Have been using this broker for last few years. Excellent platform especially i love the advanced charting... they are continuously trying to improve the platform and take the feedback seriously. So far had no problems getting the money out from the account. I've done day trading on the platform with no problems. Very occasional glitches are noticed but 99.99% times no problems. The glitches are not costly (things like order could not be filled as price changed within seconds etc). Wouldn't go to other broker now (unless IG does something silly!)... Cheers

Steve C, Sydney, Australia

Rating:
Date of Post:2013-02-03
Review: I have used IG Markets from 2006 to 2011. They are alleged professional scam in my opinion. They will cheat you because they have powers that even a casino does not have. I have traded share's and forex with IG Markets. There puredeal online platform is a legal scam. They will refuse your trades if you are to profitable. Or leverage up to much so they can wipe you out. One important thing that I must tell you all is that when they do margin calls they will use market quotes and not the last traded price so beware on the volatile days because if there are no quotes kiss your cfd good bye and all your money!.They know every legal loop hole in Australia. Americians call these companies "Bucketshops" and I agree!. Also the last review is wrong mastercard fees are 1.5%. And transfer take overnight. Please listen to me and read there product disclosure statement. most important of all do not trade with IG Markets because 90% of all CFD traders loss money it is a fact!. I wish all good luck.

Cuong Vu, Sydney, Australia

Rating:
Date of Post:2013-01-19
Review: I have been using IG for a couple of years...and have had no problems. Instant deposit without credit card fees through mastercard. I have made plenty of standard withdrawals, before 2pm appear in my bank account 6pm or 10pm same day. No fees

The issues by traders i have read on this thread are the common mistakes for beginners....

I would rate them as OK. Because there is room for improvement and for now i am still making a profit
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New Trader from Sydney, Australia, Australia

Rating:
Date of Post:2012-12-16
Review: I used the demo account and over the weekend, my trade went backwards for no reason. Markets were all closed and I lost TOP $$$. I am not risking my money on this platform as I am concern, to a degree that I think they have designed their system to get money off you in a sneaky way.

hayden lyon, perth, Australia

Rating:
Date of Post:2012-08-15
Review: Unethical behavior spottered had a euro long position closed yesterday at my SL which the market and even there platform never reached as I was watching it closely . the market surged up a coupple of pips they then closed my large positon this was during a slow period in the market and market responded acordingly by dropping then rallied up about 15 pip

Rupert, Wellington, New Zealand

Rating:
Date of Post:2012-02-14
Review: I have used IG Markets for over 5 years. I've lost money and i've made money but when I need my money back, they always pay within 2 days (which is great considering they're not even based in NZ). Can't imagine why the rating is so low for this company, it is fantastic and their iPad app is getting better by the week.

Rich, Sydney, Australia

Rating:
Date of Post:2012-01-20
Review: Ok, I know IG is not really a dedicated FX broker but I feel that this is worth hearing!

I trade a variety of products using IG, and mid-late last year (2011), I opened a separate just for binary options on indices and FX. I was able to turn 500 into 3,500 in a bit over a month, then that's when the trouble began.

My connection with IG (and only with IG) would mysteriously slow down to the point that my order would take 5-15sec to get through. And if you have traded 5min binary, the intra-second volatility is huge close to expiry, and on 90% of my trades I would either have to give up 2/3 of my potential profits or miss the trade completely.

I despite the drama, I still managed to craw my way up to 4k, and that also meant they have more tricks up their sleeves.

Their platform would show me that my trades are in profit and won while settling the options as though I have lost. And their customer service were no help either.

After a couple of such incidents, I actually started to take screen shots as well as internet speed and made formal complaint to the Ombudsman services.

IG then finally agreed to refund their losses but not after permanently suspending my account because they believe do not have sufficient knowledge of how their services worked!!!

Like many retail brokers, unless you are a RETAIL with money to donate, DO NOT USE IGMARKETS!!!!!!!!!!!
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